India’s Tata Electronics has agreed to buy a majority stake in Taiwanese contract phone maker Pegatron’s only iPhone plant in India, creating a new joint venture that will further strengthen Tata’s position as a supplier to Apple, according to news agency Reuters.
Tata Electronics:As per the report, under the deal announced by Tata last week, Tata will now hold a 60% stake and run day-to-day operations through the joint venture, while Pegatron will hold the remaining stake and provide technical support, information yet to be revealed by both sides.
Experts estimate that India’s contribution to total iPhone shipments will be 20-25% this year, up from 12-14% last year. The Tata-Pegatron venture, which employs around 10,000 people and manufactures 5 million iPhones a year, will now be Tata’s third iPhone factory in India.
According to sources, both the companies may apply for approval from the Competition Commission of India (CCI) in the coming days. Tata is already operating an iPhone assembly plant in Karnataka, which it took over from Taiwan’s Wistron last year.
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